AMG National Trust Bank Sells 446 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

AMG National Trust Bank cut its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 15.4% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 2,452 shares of the medical research company’s stock after selling 446 shares during the quarter. AMG National Trust Bank’s holdings in Thermo Fisher Scientific were worth $1,517,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Signature Resources Capital Management LLC grew its position in Thermo Fisher Scientific by 318.2% during the second quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock worth $25,000 after buying an additional 35 shares in the last quarter. Peterson Financial Group Inc. bought a new stake in shares of Thermo Fisher Scientific during the 3rd quarter valued at about $27,000. New Millennium Group LLC bought a new position in shares of Thermo Fisher Scientific in the second quarter worth approximately $29,000. Stephens Consulting LLC raised its stake in Thermo Fisher Scientific by 116.0% in the second quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 29 shares in the last quarter. Finally, Bank & Trust Co purchased a new position in Thermo Fisher Scientific in the 2nd quarter worth approximately $33,000. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TMO has been the subject of a number of research analyst reports. Raymond James lifted their price objective on shares of Thermo Fisher Scientific from $650.00 to $660.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Wells Fargo & Company cut their price objective on Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Redburn Atlantic started coverage on Thermo Fisher Scientific in a research report on Monday, October 14th. They issued a “buy” rating and a $680.00 target price for the company. Stifel Nicolaus reduced their price target on shares of Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. Finally, Evercore ISI lowered their price objective on shares of Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Thermo Fisher Scientific has a consensus rating of “Moderate Buy” and a consensus price target of $649.33.

Insider Buying and Selling at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction on Friday, October 25th. The stock was sold at an average price of $560.16, for a total transaction of $168,048.00. Following the completion of the transaction, the executive vice president now owns 16,663 shares in the company, valued at approximately $9,333,946.08. The trade was a 1.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $554.29, for a total transaction of $5,542,900.00. Following the sale, the chief executive officer now directly owns 121,192 shares in the company, valued at $67,175,513.68. This trade represents a 7.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 37,150 shares of company stock valued at $20,651,865. 0.34% of the stock is currently owned by company insiders.

Thermo Fisher Scientific Stock Performance

Shares of TMO stock opened at $501.50 on Tuesday. The company has a quick ratio of 1.26, a current ratio of 1.63 and a debt-to-equity ratio of 0.64. The stock has a fifty day moving average of $584.05 and a 200 day moving average of $581.90. The firm has a market capitalization of $191.82 billion, a price-to-earnings ratio of 31.44, a PEG ratio of 3.39 and a beta of 0.79. Thermo Fisher Scientific Inc. has a 52 week low of $465.90 and a 52 week high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.25 by $0.03. The company had revenue of $10.60 billion for the quarter, compared to analysts’ expectations of $10.63 billion. Thermo Fisher Scientific had a net margin of 14.48% and a return on equity of 17.49%. Thermo Fisher Scientific’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the company earned $5.69 earnings per share. As a group, research analysts expect that Thermo Fisher Scientific Inc. will post 21.67 earnings per share for the current year.

Thermo Fisher Scientific Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 13th will be issued a $0.39 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.56 dividend on an annualized basis and a yield of 0.31%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 9.78%.

Thermo Fisher Scientific announced that its Board of Directors has approved a stock repurchase plan on Friday, November 15th that allows the company to buyback $4.00 billion in outstanding shares. This buyback authorization allows the medical research company to repurchase up to 2% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

About Thermo Fisher Scientific

Thermo Fisher Scientific Inc provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services in the North America, Europe, Asia-Pacific, and internationally. The company's Life Sciences Solutions segment offers reagents, instruments, and consumables for biological and medical research, discovery, and production of drugs and vaccines, as well as diagnosis of infections and diseases; and solutions include biosciences, genetic sciences, and bio production to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.